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Where can I learn more about Price Action like those in James16 charts? 9 replies

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james16 Chart Thread

  • #35,841
  • Jul 2, 2009 7:09am Jul 2, 2009 7:09am
. .

Quoting raczekfx
These were the other two trades I made at the same time I got PA on oil and DJ. Since I don't discussed opened positions anymore I didn't posted initially, but quoted post should've hinted you what I traded...
Waiting for nonfarm now... and crawling back to my cave.. spend to much time on forums lately
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What does not kill me makes me stronger. Friedrich Nietzsche,
  • #35,842
  • Jul 2, 2009 7:09am Jul 2, 2009 7:09am
What you guys recon, is this formation a Pin Bar bouncing from channel and PPZ.
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  • #35,843
  • Jul 2, 2009 7:17am Jul 2, 2009 7:17am
Quoting raczekfx
These were the other two trades I made at the same time I got PA on oil and DJ. Since I don't discussed opened positions anymore I didn't posted initially, but quoted post should've hinted you what I traded...
Waiting for nonfarm now... and crawling back to my cave.. spend to much time on forums lately
I know it's hard work guiding us newbies around Mark.

You can't be thanked enough for that.
I believe . . .
  • #35,844
  • Jul 2, 2009 7:30am Jul 2, 2009 7:30am
Quoting verno
A question looking at BEOB. Here is one I found on USDCHF. we have now had a retrace of this which actually extended beyone 61.8%.

Is this something that we should be looking to play on the long side or because we had a significant retrace then we need to be wary? Additionally its against the downtrend of the last few weeks?

STOP! IT'S A NO TRADE!

Retraces are played only when the Bar has broken I.e it has been validated.

The BUOB only "looks" like a BUOB until the high breaks.


Keeping the breaking part aside, a trade would have been aimed at a difficult move by the BUOB to break the 1.1 resistance, so it can not be categorized as A+.

In such times when a PA setup forms close to an important round number/ppz what I prefer to do is to give a lot of importance to the close. Clearly the buob closed a good 30 pips below 1.1 after touching it and this buob high served as added resistance to the next bar we hoped would break the buob and make us rich.

Again...

"This is dirt simple folks"...James16

Just train yourself to look beyond the PA bars into the price action world. It isn't a nasty sight.

Regards,
Ghous.
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  • #35,845
  • Jul 2, 2009 7:39am Jul 2, 2009 7:39am
Quoting ghous
STOP! IT'S A NO TRADE!

Retraces are played only when the Bar has broken I.e it has been validated.

The BUOB only "looks" like a BUOB until the high breaks.


Keeping the breaking part aside, a trade would have been aimed at a difficult move by the BUOB to break the 1.1 resistance, so it can not be categorized as A+.

In such times when a PA setup forms close to an important round number/ppz what I prefer to do is to give a lot of importance to the close. Clearly the buob closed...
cheers ghous I didn't realise about the breaking the high piece. I will go back through the archives again.
  • #35,846
  • Jul 2, 2009 7:46am Jul 2, 2009 7:46am
Quoting Ryanmcd
Time for the US$ to go up

Hope you guys made some money off this
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Keep taking CT trades, I need more money
  • #35,847
  • Edited 9:11am Jul 2, 2009 7:57am | Edited 9:11am
Quoting ghous
Weekly IPB.

Planned entry: close of the IPB

1st target: IPB low/fib confluence (50, 38.2)

Initial SL: Above the IPB high.

Regards,
Ghous.
It get's so much easier when you can sit on your butts open and close your charts day after day simply because you have learned to patiently wait for the best of setups and comfortably pass all the others because they are not worth your hard earned money.

That said, here is the Aud/Chf weekly IPB (first trade in 15 days) doing good.

I normally like to take it all off at the IPB high/low but the highs around the 8600 level hint towards the existence of a ppz. I'll like take some off here and move my stop to BE thanks.

Regards,
Ghous.
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  • #35,848
  • Jul 2, 2009 8:13am Jul 2, 2009 8:13am
Why thank you Private Ryan for voting for me, let me give you some free advice for that......forget chasing these daily pins, waste of time (which I notice after three weeks of trading them you have discovered) and look more at the 60 min and 4 hour, they actually work well together if you get my meaning, loads more set ups, not as stressful as your past 3/5 min gambles, everyone wins.
Or, you could keep doing the lottery, if you win, get the millions then trade the dailies for 0.3%, narmean?
Private Ryan is saved.
  • #35,849
  • Jul 2, 2009 8:15am Jul 2, 2009 8:15am
Quoting bobability
Why thank you Private Ryan for voting for me, let me give you some free advice for that......forget chasing these daily pins, waste of time (which I notice after three weeks of trading them you have discovered) and look more at the 60 min and 4 hour, they actually work well together if you get my meaning, loads more set ups, not as stressful as your past 3/5 min gambles, everyone wins.
Or, you could keep doing the lottery, if you win, get the millions then trade the dailies for 0.3%, narmean?
You were right Ryan it's BOB!

Good to see you again bro,

You know how anxious Ryan was to to be privileged to learn trading from you?
I believe . . .
  • #35,850
  • Jul 2, 2009 8:19am Jul 2, 2009 8:19am
Quoting bobability
Why thank you Private Ryan for voting for me, let me give you some free advice for that......forget chasing these daily pins, waste of time (which I notice after three weeks of trading them you have discovered) and look more at the 60 min and 4 hour, they actually work well together if you get my meaning, loads more set ups, not as stressful as your past 3/5 min gambles, everyone wins.
Or, you could keep doing the lottery, if you win, get the millions then trade the dailies for 0.3%, narmean?
Yep I do like the 4hr over the daily and it seems the 1:00am EST bar is the gold bar at least on my charts. Daily is okay but it's pretty slow, I cant deal with 6 trades a month and most getting stopped out or a 2 week grind to print cash. Also I have been looking at the 1hr but the 4hr does it because it has enough setups as well as I dont have to be at the screen every hour.

Also about the 5min it works, I did the 3min on the spooz because I only had 10k so I had to grid it out, once you get 100k+ hitting 1 million is easy as long as the numbers dont throw ya. And using a 3 handle stop with 8-10 on the winners and batting 70%+ it's really money in the bank.

Some chat from my mentor


tepid2: (Wed, Jul 1, 2:18 PM ET)
lol-- RYAN --when i die you come to bartow andtell the poeople you were the one and only person who WAS TRAINED ON THE ROPE --

tepid2: (Wed, Jul 1, 2:34 PM ET)
w/l%, foo (frequency of opportunity), and compounding thru size increases ..........all the rest can be deduced through those...TONE AND NOISE adaptation the final keys to the vault

tepid2: (Wed, Jul 1, 2:40 PM ET)
lol-- that was a moment in time THAT TONE AND NOISE made possible ..was vewry specific to the 2001/2002 DUMP-- but 53/55 winners of 10 hadles vs 2 handles of risk was OFF THE CHAIN

Keep taking CT trades, I need more money
  • #35,851
  • Jul 2, 2009 8:20am Jul 2, 2009 8:20am
Quoting ghous
You were right Ryan it's BOB!

Good to see you again bro,

You know how anxious Ryan was to to be privileged to learn trading from you?
Hey guys,

Let's forget about the past, shake hands and move forward. If Bob is, who he says he is, we might all benefit from his experience. Let's be civil here, bars open in just few hours...

Cheers,
M
  • #35,852
  • Jul 2, 2009 8:20am Jul 2, 2009 8:20am
Quoting ghous
You were right Ryan it's BOB!

Good to see you again bro,

You know how anxious Ryan was to to be privileged to learn trading from you?

Hey as long as they have some kinda value to add I don't care what someone said in the past. BUT if someone wants to post stupid BS and bash people that is just a waste of time to everyone.
Keep taking CT trades, I need more money
  • #35,853
  • Jul 2, 2009 8:35am Jul 2, 2009 8:35am
Hey Raczekfx

How's it going?
Patience + Humility + Study = Success
  • #35,854
  • Jul 2, 2009 8:37am Jul 2, 2009 8:37am
Quoting raczekfx
Hey guys,

Let's forget about the past, shake hands and move forward. If Bob is, who he says he is, we might all benefit from his experience. Let's be civil here, bars open in just few hours...

Cheers,
M
Sure. Let's move on...
I believe . . .
  • #35,855
  • Jul 2, 2009 8:42am Jul 2, 2009 8:42am
Ok fellas, I realise you can't fart too loudly to be heard above the noise on this thread (and there's a lot of that) so I will keep it subtle, first off, after reading this thread I have come to the conclusion there is about 3% max of any worth to anyone starting off. Start from about when I started .

Joking, (are jokes allowed here?) Mike, Racz, Ryan, some others and even James has some points (regarding PPz, and the reversal Pin bar).

But this is MY opinion:

You can trade much better than this style starting from a $1k account, I totally disagree with having to hold a huge account then trade for 0.3%.

What's the difference between the accuracy and proBOBABILTY between dailies and 4 hour or 60 min?

NONE in terms of patterms, bar formations etc, it's just it moves quicker and give you more set ups.

Who the hell wants to be woke up in the middle of the night to move a stop? Is that relaxing trading i ask you? Well it's not to me, that's being a SLAVE to the market, fcuk that..

Now, listen, it's not about the pips boys and girls, it's all about the % you win.......enough for now, don't want to get booted off before I show you how to think like a Pro Trader like last time.
Private Ryan is saved.
  • #35,856
  • Jul 2, 2009 8:42am Jul 2, 2009 8:42am
Can Gu close as a weekly BEOB below 162 breaking the consolidation or is will it continue to make us wait.

I am really looking forward to the BEOB, wonder if the non-farm would support the cause though.
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  • #35,857
  • Jul 2, 2009 8:47am Jul 2, 2009 8:47am
Quoting bobability
Ok fellas, I realise you can't fart too loudly to be heard above the noise on this thread (and there's a lot of that) so I will keep it subtle, first off, after reading this thread I have come to the conclusion there is about 3% max of any worth to anyone starting off. Start from about when I started .

Joking, (are jokes allowed here?) Mike, Racz, Ryan, some others and even James has some points (regarding PPz, and the reversal Pin bar).

But this is MY opinion:

You can trade much better than this style starting from a $1k account,...
hey Bob,

As far as it is related to price action I wouldn't mind finding out how you trade.

So how exactly will you enter on the 1H, 4H without the price action bars? We know it can be done and a lot of ppl on this thread do it, but there is obviosuly nothing wrong in finding out just another route...

I just hope it's not something totally diff to what we do here...
I believe . . .
  • #35,858
  • Jul 2, 2009 8:51am Jul 2, 2009 8:51am
Quoting bobability
But this is MY opinion:

You can trade much better than this style starting from a $1k account, I totally disagree with having to hold a huge account then trade for 0.3%.

What's the difference between the accuracy and proBOBABILTY between dailies and 4 hour or 60 min?

NONE in terms of patterms, bar formations etc, it's just it moves quicker and give you more set ups.

Who the hell wants to be woke up in the middle of the night to move a stop? Is that relaxing trading i ask you? Well it's not to me, that's being a SLAVE to the market, fcuk...
Welcome to the thread Bob,

Some valid points here. This is perhaps why 80% of my trading is done on 4 and 1hr TFs.
  • #35,859
  • Jul 2, 2009 8:57am Jul 2, 2009 8:57am
Quoting ghous
STOP! IT'S A NO TRADE!

Retraces are played only when the Bar has broken I.e it has been validated.

The BUOB only "looks" like a BUOB until the high breaks.


Keeping the breaking part aside, a trade would have been aimed at a difficult move by the BUOB to break the 1.1 resistance, so it can not be categorized as A+.

In such times when a PA setup forms close to an important round number/ppz what I prefer to do is to give a lot of importance to the close. Clearly the buob closed...
Ghous, is there also a timeframe over which the setup would be valid assuming it broke the high, or a price extension over which its invalid.

eg it takes another 10 bars before it retraces or the bar extends its same length again before it retraces back down?
  • #35,860
  • Jul 2, 2009 9:04am Jul 2, 2009 9:04am
Quoting bobability
Ok fellas, I realise you can't fart too loudly to be heard above the noise on this thread (and there's a lot of that) so I will keep it subtle, first off, after reading this thread I have come to the conclusion there is about 3% max of any worth to anyone starting off. Start from about when I started .

Joking, (are jokes allowed here?) Mike, Racz, Ryan, some others and even James has some points (regarding PPz, and the reversal Pin bar).

But this is MY opinion:

You can trade much better than this style starting from a $1k account, I totally...
Yep about watching it, now if you look at my post you see I am not working with a trailing stop Now I get in and sleep good I do kill trades if it looks like it may turn around like the eur/usd yesterday but other then that I let 90% just run. And you are correct it's all % win but I think 90% don't trade money on here so when it's a demo account +pip always looks better and hey it's a bigger number right? +250 pips looks better then +3% gained ggg
Keep taking CT trades, I need more money
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